PM Modi optimistic about US$ 5 trillion economy vision

Addressing an event in Bangkok on November 3, Prime Minister Shri Narendra Modi said the country is among the top 10 destinations for foreign direct investment (FDI) in the world and had received US$ 286 billion of FDI in the last five years. He attributed this to many things such as foreign direct investment, ease of doing business, ease of living and productivity are rising while tax rates, red-tapism, corruption, cronyism are on a decline. “When my government took over in 2014, India’s GDP was about two trillion dollars. In 65 years, two trillion. But in just five years, we increased it to nearly three trillion dollars,” the PM said. He also expressed confidence that the vision for a US$ 5 trillion economy will be a reality soon.